News

More tariffs and counter-tariffs have begun

As of midnight, the U.S. and China have begun imposing tariffs on an additional 16-billion dollars’ worth of each other’s products. This time, fish meal and wood pellets have been added to the list of U.S. products targeted for retaliatory tariffs by the Chinese.  Most agricultural products were hit heavily in earlier rounds of tariffs.

A statement from the U.S. Trade Representative’s Office earlier this month says this list of tariffs focuses mostly on robotics, new materials, cars, and industrial machinery.

Chinese officials are in Washington as part of a second day of trade talks, but President Trump expects no major breakthroughs.  Trump has again called on the Chinese to stop manipulating their currency to adjust for U.S. tariffs.

The U.S. Trade Representative’s office is now holding hearings on additionally proposed tariffs.  Trump has called for preparing a 25% tariff on another 200-billion dollars’ worth of Chinese goods.